One of the largest single city centre regeneration initiatives in Europe, the regeneration of the 253ha South Bank, supported by the transformation of Leeds Station to include HS2, will double the size of Leeds City Centre. Already a hub for National HQs, award winning residential development and workspaces for the creative sectors, its regeneration will facilitate development of 8,000 homes by 2028 and over 35,000 jobs. There are major investment opportunities in this location, including for occupiers as the city’s prime office core extends to this area.
South Bank Today
The regeneration of the South Bank area of Leeds will be the biggest change the city has seen in more than a hundred years, the vision is to create a distinctive global destination for investment, living, learning, creativity and leisure.
It is an area characterised by both the Waterfront (which runs along the entire area) and its unique heritage – the area was a birthplace of the Industrial Revolution and has over forty listed buildings - as well as a number of cleared brownfield sites now ready for development. It is home to Asda’s National HQ, and the location of offices for major brands such as Sky, BT, Direct Line whilst being a premier location for the creative and digital sectors. Over 500 businesses in the creative and digital sectors locate here, in managed and serviced workspace, complemented by a wide range of independent businesses.
With a bespoke entrance to Leeds Station serving the area, there has been substantial investment in the area, with a pipeline of developments exceeding over £1bn emerging. Completed development ro schemes in the pipeline include:
Granary Wharf - Award winning canal side development completed in 2009 with over 300 apartments across Waterman’s Place and the iconic Candle House.
Climate Innovation District – Citu’s under construction scheme, is an exemplar sustainable scheme of over 800 new low carbon homes alongside a primary school, offices, leisure and on site manufacturing of homes.
Vastint - Vastint acquired the 22 acre site of the former Tetley Headquarters site in 2015: only one of two investments outside of London. Anchored by proposals for a large city park, Vastint have outline planning permission for a mixed used development comprising of 850 residential units, 85,000 sqm of B1 office floorspace and 15,000 sqm of flexible commercial use floor space.
Tower Works – With its three iconic Italinate Towers, this site has consent for a mixed use scheme, including a major residential element.
CEG - Planning permission has been secured to revitalise the 8.69 acre site, delivering a vibrant, well connected and sustainable mixed-use development in the heart if South Bank. The derelict brownfield site is a gateway to the city from the South West and will be transformed into a place to live, work, eat, drink, shop, meet and relax. Work commenced in early 2019 on site clearance. CEG also acquired the Grade I listed Temple Works and is now developing comprehensive plans for a 20 acre + area.
Leeds Dock - There has been renewed investment by Allied London to reinvigorate Leeds Dock, including a major public realm programme and refresh of the retail and leisure offer on-site, with Sky now located here alongside a range of businesses in the creative and digital sectors.
Educational Quarter – South Bank is home to the Ruth Gorse Academy, Leeds College of Building, Leeds City Printworks College and the University Technical College. Approximately 10,000 students study in the area each day.
Guinness Partnership – A brand-new neighbourhood in the heart of the regeneration area, complete with 928 residential apartments, cafes and restaurants, in addition to office and retail space.
A comprehensive area wide infrastructure package is progressing in South Bank. This includes the transformation of Leeds Station and development of HS2, new footbridges at Sovereign Square and by Citu at the Climate Innovation District, the development of a new 3.5ha city centre park, actions to transform the waterfront alongside a £50m+ package of infrastructure to remove highway infrastructure to create more liveable spaces to support housing developments. Proposals for a new primary school are also due to commence on site in the next 18 months. This builds on infrastructure already delivered in the area, including Flood Alleviation Works, and the Leeds Station Southern Entrance.
Few areas can offer the breadth of opportunity for investors as what is provided in South Bank, whether it be for occupiers, commercial development, housing developing or investments into infrastructure.